Average Down Slightly at NZ Sale

Edited New Zealand Bloodstock press release

New Zealand Bloodstock's ready to run sale of 2-year-olds ended its two-day stand in Karaka Nov. 19 with solid results. The average price of NZ$60,366 was down only 1.3% from 2007’s comparable figure of NZ$61,134, which was a record for the auction. The median price of NZ$33,000 represented a drop of 8.3% from NZ$36,000 last year.

The clearance rate was 67%, down from 2007’s 70%. The 247 juveniles sold grossed NZ$14,910, 500 compared with NZ$15,100,000 for the same number sold last year.

The sale’s top price of NZ$400,000 was brought during the opening session by a Red Ransom– Lady Circles colt. The most expensive horse sold on the second day was a NZ$360,000 Zabeel colt out of group I winner Surprize Surprize (by Prized). He was purchased by Queensland bloodstock agent John Foote from Mark and Shelley Treweek's Lyndhurst Farm.

"I've bought him for a Hong Kong client and as yet we haven't decided whether he'll race in Australia first or go straight to Hong Kong,” Foote said. "He's a well-bred colt -- a lovely type -- and he breezed up with a good action. We're hoping he'll be as good as his mother and father."

The colt breezed up the 200-meter straight at Te Rapa racecourse Oct. 20 in a time of :11.72.

Of the 247 horses sold, 17 fetched $200,000 or more compared with 14 last year, showing the relative strength at the top of the market.

"In view of the challenges facing everyone in the current market conditions, the results of the past two days have really been well in excess of our expectations,” said Petrea Vela, New Zealand Bloodstock’s managing director of sales and marketing. “Heading into this sale we were certain that results would be down on last year, but to see such strength from the market here has been a fantastic result.

"One of the most pleasing aspects of today was the strengthening clearance rate, which was 69% for the day and brings the overall clearance to 67%. Particular credit must be paid to the great number of both international and local buyers that came to Karaka this week. We're very grateful for their efforts to be here and their support of the sale with their purchases, and hope that they are justly rewarded on the racetrack."

The leading buyer was Graeme Rogerson, who purchased eight horses for NZ$1,625,000.